CG Oncology (NASDAQ:CGON) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of CG Oncology (NASDAQ:CGON) in a research report released on Friday,Benzinga reports. The brokerage currently has a $75.00 price objective on the stock.

Several other analysts have also weighed in on CGON. Bank of America reiterated a “buy” rating and set a $65.00 target price on shares of CG Oncology in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of CG Oncology in a report on Friday, December 6th. TD Cowen assumed coverage on CG Oncology in a report on Tuesday. They issued a “buy” rating for the company. Finally, UBS Group began coverage on CG Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $60.00 price target on the stock. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CG Oncology has an average rating of “Buy” and a consensus price target of $63.88.

CG Oncology Stock Performance

Shares of CGON opened at $30.20 on Friday. The stock’s 50-day moving average price is $32.56 and its 200 day moving average price is $34.23. CG Oncology has a 12-month low of $25.77 and a 12-month high of $50.23.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million. CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. Equities analysts predict that CG Oncology will post -1.32 EPS for the current year.

Insider Buying and Selling at CG Oncology

In related news, Director Leonard E. Post sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.54, for a total value of $34,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hong Fang Song sold 700,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $28.00, for a total transaction of $19,600,000.00. Following the completion of the transaction, the director now owns 3,003,931 shares of the company’s stock, valued at $84,110,068. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On CG Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank lifted its stake in shares of CG Oncology by 107.6% during the third quarter. Amalgamated Bank now owns 1,621 shares of the company’s stock valued at $61,000 after acquiring an additional 840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CG Oncology during the 3rd quarter valued at about $241,000. Profund Advisors LLC acquired a new position in CG Oncology during the 2nd quarter valued at about $300,000. HighVista Strategies LLC bought a new position in shares of CG Oncology in the 3rd quarter valued at about $594,000. Finally, M&T Bank Corp grew its position in shares of CG Oncology by 55.7% during the 3rd quarter. M&T Bank Corp now owns 16,758 shares of the company’s stock worth $632,000 after buying an additional 5,996 shares during the period. 26.56% of the stock is owned by institutional investors and hedge funds.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.